ScandAsia Southeast Asia - February 2012

FEB 2012

Cambodia Indonesia Laos Malaysia Philippines Vietnam

Crown Prince Frederik:

Vietnam Is Under My Skin

How TTA Group Turned Baconco Around ScandAsia.dk

ScandAsia.fi

ScandAsia.no

ScandAsia.se

e h T IB World School in Singapore!

Specializing ONLY in the IB curriculum

ISS INTERNATIONAL SCHOOL Established in 1981

Elementary & Middle School Campus 25 Paterson Road, Singapore 238510 Tel: (65) 6235 5844 Fax: (65) 6732 5701

High School Campus

21 Preston Road, Singapore 109355 Tel: (65) 6475 4188 Fax: (65) 6273 7065

Website

www.iss.edu.sg

Email

M

UN

DO • WOR

L D

O

•

HOOL • É C

CO

SC

LEGIO DEL

admissions@iss.edu.sg

Focusing on Personal & Social Development, Maximizing Academic Excellence An authorized IB World School specializing only in the IB Primary Years, Middle Years and Diploma programs for ages 3 to18. Extensive range of IB Diploma subject options.

1st International School in Singapore with a 1 to 1 Apple Macbook laptop program.

Outstanding student support services including university advising, counseling and guardianship programs.

Multicultural environment with students from more than 50 countries – no dominant group.

Esteemed faculty members with a significant number of IB workshop leaders, examiners, moderators and authors.

Accrediting Commission for Schools

LE

DU MONDE

ISS is registered by the CPE • Registration no: 198104012C • Registration period: 16 June 2011 to 15 June 2015

Danske Bank International S.A., R.C.S. Luxembourg, No. B. 14.101, Aut. 24859

“New job, new country, new culture. I’m confident knowing that my investments remain in good hands no matter where my career takes me next”.

Lisa, 37, CEO, International Private Banking client

Needs beyond the ordinary?

International Private Banking is a service for clients with high income or wealth, who have chosen to live outside the Nordic countries. You and your family are assigned an Executive Wealth Manager, a financial specialist, who can guide you on your overall private finances.

Your Executive Wealth Manager is available for meetings even outside normal office hours and can draw upon experts within the Danske Bank Group or our network of external specialists on areas such as domiciliation, insurance and audit.

Michael Blom, Executive Wealth Manager at Danske Bank International, will be present in South East Asia during Spring 2012 and available for a private business meeting at your convenience. Call +352 46 12 75 434 or send an e-mail to michael.blom@danskebank.lu to set up a meeting and hear what Danske Bank International has to offer you.

For further information, please visit www.danskebank.lu

Coming Events LONGING

A Multi-Media Concert Date: 18 February 2012 Location: Kuala Lumpur Performing Arts Center Nordlandia / Southeast Asia Art Company will stage Longing in Malaysia at the Kuala Lumpur Performing Arts Center (KLPAC) on 18 February 2012. It is a performance that features an amazing fusion of the art forms - combining new music written for classical string quartet set in a digital environment. It explicitly creates a platform where the North and South (East) meet; displaying digital set design, music composition, contemporary dance and musicians from different backgrounds. More information and ticket: www.klpac.org/?p=5359

Your FREE ScandAsia Magazine ScandAsia is the only magazine that covers all the Danish, Finnish, Norwegian and Swedish residents in South East Asia.

We also publish a ScandAsia magazine in China, Thailand, and Singapore.

Please sign up for your own FREE copy: www.scandasia.com Publisher: Scandasia Publishing Co., Ltd. 4/41-2 Ramintra Soi 14, Bangkok 10230, Thailand Tel. +66 2 943 7166-8, Fax: +66 2 943 7169 E-mail: news@scandasia.com Editor-in-Chief: Gregers A.W. Møller gregers@scandmedia.com Advertising: Finn Balslev finn@scandmedia.com Piyanan Kalikanon piyanan@scandmedia.com

SSM

Annual General Meeting

Fastelavnsfest

Date: 18 February 2012, 6:30pm Location: Tropicana Golf & Country Resort

in Jakarta

The Scandinavian Society Malaysia invites all members to The 47th Annual General Meeting 2012 on 18 February at Tropicana Golf & Country Resort. If you are Scandinavian living in Malaysia, you should be member so you can join an interesting event with your Scandinavian friends. Please contact info@ scandinaviansocietymalaysia.com.

Nordic Club in Jakarta will organize a traditional Danish Fastelavnsfest on 19 February 2012.

It will be a great fun event for a whole family.

Interesting to be member and more information, please visit www.nordicclubjakarta.org or contact president@nordicclubjakarta.org.

Date:

19 February 2012

Nattapat Maesang nattapat@scandmedia.com Graphic Designer: Supphathada Numamnuay supphathada@scandmedia.com Distribution: Pimjai Chaimongkol pimjai@scandmedia.com Printing: Advanced Printing Services Co., Ltd.

Daily news and features here: www.scandasia.com

SSP

Annual General Meeting Date:

7 March 2012

Year 2011 was the successful beginning for Scandinavian Society Philippines. Let’s make 2012 even better. The first step could be to participate in AGM on 7 March 2012. Come and share your opinion about future activities to make sure that member will be enjoyed. Please save the date and stay tuned for more information at www. ssp.org.ph.

Picture: www.icfhouston.org

www.scandasia.com/m Read on your mobile phone

Sign up for free delivery of the ScandAsia magazine on www.scandasia.com/m

Great Nordcham HCMC Christmas Party

N

ordcham HCMC's Christmas Party on Friday 2 December 2011 was yet another great event. The guests were served glögg on arrival until everybody had arrived. Then followed a traditional Nordic Christmas buffet with Carlsberg beer, soft drinks and Norwegian Aquavit interspersed with several entertaining performances on the stage.

After the dinner the annual Nordcham charity auction took place, raising funds for Nordcham's selected education programs and in support of disadvantaged children in Vietnam.

Nordcham wishes to thank the generous sponsors who made the event so succesful. Main Sponsor was agian this year Jyske Bank (Schweiz) AG, supported by the diamond sponsors Eelectrolux, Carlsberg, Thoresen (Indochina), Kim Nguon, Con Co, Sophie Paris, Baria Serece Phu My Port, Grontmij/Carl Bro Vietnam, and gold sponsors Mat Rong Vang, Jotun, Mermaid, and silver sponsors stx OSV, Securitas and Jutland Co. Ltd.

Are you looking for a new place in SINGAPORE? I know the perfect HOUSE or APARTMENT in strategic locations for you and your family to live.

It’s never too early to start investing in your child’s future.

The only thing growing faster than your children, is the cost of higher education. And for many parents, establishing a regular monthly savings plan is the best way to ensure they have sufficient funds to cover their children’s university or college fees.

Infinity’s experienced consultants can provide the impartial advice that

Labuan FSA License NO.BS200548 Company No. LL04446

you need, and can a develop a tailor-made financial plan which starts

Let me help you find your dream property!

PURCHASE, RENT OR SELL, MY TOP PRIORITY IS TO SATISFY ALL MY CUSTOMERS’ RELOCATION NEEDS

now – but will help you to provide for your family’s needs in the future.

HSR International Realtors Pte Ltd 3 Lorong 6 Toa Payoh #01-01 HSR Building, Singapore 319378 Tel: 6559 8888 Fax: 6559 8889

Get in touch today.

Visit infinityfinancialsolutions.com Email info@infinityfinancialsolutions.com Call Thailand +66 2 261 1571 Malaysia +60 3 2164 6585 Cambodia +855 23 997 121 Vietnam +84 8 6255 6914 Hong Kong +852 2855 6961 The possibilities are endless

6 ScandAsia.South East Asia • February 2012

Hetty Keenan Bode BA (Hons) Marketing Associate Director CEA Reg No.: R028500I

Call me NOW for a NON-binding discussion!!! (+65) 9735 0107 keenanbode@hsr.com.sg keenan.bode@yahoo.co.uk

Find one Private Banking advisor, then make sure he knows many specialists Wealth management today involves much more than selecting the best stocks and bonds. At Nordea Private Banking, we offer you an experienced personal advisor and a comprehensive overview of your wealth based on thorough research and rigorous analysis. One private banker, many specialists – making it possible.

Contact Nordea Singapore on +65 6317 6522, or e-mail eric.pedersen@nordea.com

Eric Pedersen, Private Banker

Nordea Bank S.A, Nordea Bank Finland Plc and Nordea Bank AB (publ) are part of the leading financial services group in the Nordic and Baltic Sea regions. Being the leading Nordic pan-European banking entity in Luxembourg, Nordea Bank S.A. focuses on international Wealth Management, Fund Distribution and Fund Management services. Our 400 employees serve a wide spectrum of international clients in more than 125 countries. Some products and services mentioned may, due to local regulations, not be available to individuals resident in certain countries. Published by Nordea Bank Finland Plc, Singapore Branch, 3 Anson Rd #22-01, Springleaf Tower, Singapore 079909.

AD_Ericpedersen_192x135_eng.indd 1

8/29/11 1:57 PM

February 2012 • ScandAsia.South East Asia

7

ScandAsia News Brief

Mermaid Safety Vietnam Opens New Office and Warehouse

Celebrating the opening.

From left, Kaare Vagner, Chairman of the Board, together with Hang and Klaus Vikkelsoe.

Malaysian in Denmark’s Eurovision Song Contest

M

ermaid Maritime Vietnam JSC inaugurated on Friday 25th November 2011 its new office and workshop in Dong Xuyen Industrial Park in Vung Tau, Vietnam.

The opening marked the start of a new era for Mermaid Maritime Vietnam JSC as it also introduced the two new investors, A/S Lauritzen’s Eftf. and their subsidiary JUTLANDIA Terminal A/S, both from Denmark.

Mermaid Maritime Vietnam JSC is providing quality service of lifesaving appliances, firefighting equipment and other safety equipment for the Shipping Industry and the Offshore Industry (oil and gas) in Vietnam and our safety services are all regulated

by IMO (International Maritime Organization) under the United Nations.

The company was established by Mr. Jorgen Lundbaek, in Vung Tau in 2004 using his long experience from Thailand in similar business which is going back to 1982.

Mermaid is today the only company in Vietnam that holds all major manufacturers approvals as well as most of the recognized Classification Societies under IACS (International Association of Classification Societies Ltd.) and we do therefore see ourselves as a leader and trendsetter within the safety service market in Vietnam.

The new investors have come to Mermaid partly as a result of the work during the last 7 years, but also because of the Vietnamese Oil & Gas Industry which is in a very positive development that is expected to continue in the years to come.

"Our new investors have extensive experience in servicing the offshore industry in the North Sea and they have well established connections to most of the international players in the offshore industry working here in Vung Tau / Ho Chi Minh City," General Director Mr Klaus Vikkelsoe said.

"We are recognizing the many similarities between the North Sea off the Danish coast and the East Sea off the Vietnamese coast.

It is therefore only natural to transfer this long proven knowhow from Denmark and Europe to Vietnam to the benefit of us all.”

“As most jobs offshore is a matter of urgency, our setup for loading and packing offshore equipment, mixing of chemicals, purchasing etc. is based on flexibility and high level of service we are flexible so our customers can concentrate on the things they are best at,” he said.

To control the business Mermaid Maritme Vietnam JSC is currently implementing ISO 9001, ISO 14001, OHSAS 18001 in 2012.

"We are proud of what we are doing and customers are therefore always welcome to visit us and follow and witness our service and work," General Director Mr. Klaus Vikkelsoe said.

Suriya Hoffman, a 32 year old singer who participated in the Danish Melody Grand Prix on 21 January 2012, brought Malaysia into the Danish part of the Eurovision song contest. Suriya has a Malaysian-Indian mother and a Danish father and was born in Perak, Malaysia. In Denmark, Suriya was the older sister in the pop duo S.O.A.P that hit the music charts in the late 90’s with among others “This Is How We Party” and “S.O.A.P. Is In The Air”.

In Melodi Grand Prix, Suriya performed “Forever I B Young” written by Thomas Hoffmann, Jakob Winge and herself.

The Eurovision Song Contest will be held in Baku, Azerbaijan on May 26 - for the first time in Asia because of Azerbaijan winning last year’s contest.

8 ScandAsia.South East Asia • February 2012

Great Party and Norwegian Colors Thoresen Vinama Logistic inaugurates a bonded warehouse near Phu My in the province of Baria Vung Tau near Ho Chi Minh City.

By Indius Pedersen

Sigmund Stromme joined the Thoresen Thai Agencies Group in 2003 as Managing Director of Thorsen Indochina and Thoresen Vinama. In 2009 he took on the added responsibility of Chairman of Baconco which the TTA Group that year acquired full ownership of. In 2010 he became a Board Member of Baria Serece, TTA’s port investment in Vietnam.

T

horesen Vinama Logistic with its foreign shareholders Thoresen Thai Agencies, Elkem Chartering and Preco Norway as well as Japanese Maritime24, affirmed its desire to invest in Vietnam by inaugurating a 16,000 sqm warehouse near the deep sea port that has Thoresen Thai Agencies as co-owner. The new warehouse, built in record time, will in future be used to store 64,000 mtgs. cargo. And yet another warehouse is underway from the option of warehouses at Thoresen Vinama’s disposal.

It all started when Thoresen Thai Agencies bought the then-deficit given Baconco Fertilizer Factory. The company then made a thumping deficit. In just two years, Thoresen Thai Agencies changed the scene. From a turnover of 197 million THB a tidy profit of just over five million was made after taxes. No debt to the bank, and only bright prospect for the future.

Behind all this is the daily management headed by Sigmund Stromme. Among several hundred participants he was the proud participant at the feast when the new warehouse in Phu My in the province of Baria

Vung Tau was inaugurated.

“The good reputation we have established with our many clients is demonstrated by the fact that the new bonded warehouse facility, in which we are today, is in fact already filled up with cargo from the day of opening. The open storage is filled with steel oil from BP, and bulk cargo will arrive to fill up the new warehouses this evening, right after the opening ceremony is over. This only show that we want to continue investing in further projects here in Phu My,” Sigmund Stromme says.

Sigmund Stromme stressed that all this had been no success if not the local authorities had been very cooperative. Both political and technical wise and from customs authorities.

Through the entire process they have given us highly professional advice.

It was party all day. First the opening ceremony followed by lunch.

Then the inspection of Thoresen’s latest investment in the Baria Serece deep-sea port. The investment that was completed in 2010 has furnished Thoresen with a 20 percent of the share capital. Finally, there was a great celebration with dinner at the Grand Hotel in Vung Tau.

February 2012 • ScandAsia.South East Asia

9

Vietnam Is Under My “I have a special relationship to Vietnam. My father grew up here. For years, Vietnam was the big topic of conversation in my home,” Crown Prince Frederik says about why his recent visit to Vietnam was so special.

I have participated in business promotion since I was 19. The first one was to Japan. But ever since I feel the task has become more concentrated, and the focus is on from all sides.

By Indius Pedersen

C

rown Prince Frederik impressed all during his recent visit to Vietnam with his vast knowledge about Vietnam and genuine interest in learning more.

“If I ask a lot of questions to the Vietnamese I meet - I return a whole lot wiser,” he explained his keen interest.

The Crown Prince Frederik was in Vietnam to take part in the celebrations of the 40 year anniversary of diplomatic relations between Vietnam and Denmark.

“I have a special relationship to Vietnam. My father grew up here.

When I was young, Vietnam was the big topic of conversation in my home,” Crown Prince Frederik says.

“I have a pleasant feeling of walking in my father's footsteps when I am in Vietnam,. I have a good knowledge of Vietnamese food through him. I like the Vietnamese culture. The Vietnamese philosophy has crept under my skin.”

“I was here two years ago with my parents and the Crown Princess and it's nice again to meet those people I met at that time. Several public figures have retired, but that is how things are,” the Crown Prince added.

Back for vacation?

Crown Prince Frederik could very well be coming back to Vietnam on vacation with Crown Princess Mary and their children, Prince Christian, Princesse Isabella, Prince Vincent and Princesse Josephine.

“I think the country is beautiful and it is not unlikely that I will go on vacation to Vietnam. There are many splendid sites for the children.

Vietnam is becoming an excellent tourist destination and a proper place for families.”

10 ScandAsia.South East Asia • February 2012

Taking over more duties

The Crown Prince Frederik and Crown Princess Mary seem to take over still more duties of Queen Margrethe and The Prince Consort. In 2011, the Crown Prince participated in three business promotions and played the head figure in two of them.

In September 2011, Queen Margrethe and The Prince Consort together with Crown Prince visited Russia on a large business promotion. In fact the largest ever with more than 90 participating companies. During the business promotion the royal family divided their duties and reached out as wide as possible.

A few weeks ago the Crown Prince and Crown Princess participated in a big promotion to Australia, and the royal couple got everybody’s attention. Crown Princess Mary was the big attraction in the media.

After the visit, Crown Princess Mary went to Tasmania with all four children while Crown Prince Frederik went on his week long visit to Vietnam on the occasion of celebrating 40 years of diplomatic relation between Vietnam and Denmark.

“I like to travel on behalf of Denmark promoting our exports, and the Crown Princess and I are able to take over more assignments from

Skin

my parents. We are a numerous family so we are able to participate in many assignments and to do more for Denmark when we disperse our tasks,” says Crown Prince Frederik.

Modernizing the monarchy

While taking over more of the Queen's duties, the Crown Prince has also become more open minded. Together with Crown Princess Mary he is slowly but surely in the process of creating a new style of a more modern, open and different monarchy.

During the last two export promotions to Australia and lastly during his visit to Vietnam the Crown Prince was talking much with the participating the Danish companies then previously. The conversations also took place in a more leisurely fashion which consequently made the Danish business leaders more relaxed.

“And I get a lot of input by talking to business leaders and a good sense of what is happening abroad seen from a Danish perspective. To head a Danish business promotion is a great motivation for me.”

“After all it is our exports we all live from,” Crown Prince Frederik adds.

February 2012 • ScandAsia.South East Asia

11

How TTA Turned Baconco Fertilizer Company Around Norwegian businessman Sigmund Stromme is a legend among Nordic businessmen in Vietnam. In 2009, Sigmund Stromme became the Chairman of the 15 year old fertilizer company Bacono. Last year, only two years later, the company produced a profit 242 percent above the performance the year he took over. In this article, Sigmund Stromme shares his strategy for successfully turning the company around.

B

aconco is today a fast growing fertilizer and crop care company in Vietnam, Since 2009, it has been chaired by the Norwegian businessman Mr. Sigmund Stromme. Last year, the company produced its best result ever, delivering a profit of THB 197.16 million or 242% above the performance in 2009.

Baconco’s core business is the production and sales of NPK chemical fertilizers, including imports and sales of single fertilizers and crop care products viz. insecticides, pesticides, herbicides, and spraying fertilizers.

Related businesses areas are warehousing, logistics and bagging of fertilizers for client companies.

“Today, 70% of our income comes from NPK fertilizers, another

By Indius Pedersen

12 ScandAsia.South East Asia • February 2012

20% is from single fertilizers and crop care products, and the remaining 10% is from warehousing and logistics,” Sigmund Stromme explains.

First the staff

When Thoresen Thai Agencies Group took over and Sigmund Stromme came on board as the Chairman, Baconco had been for sale for several years. The company had been taking fairly large losses during the financial crisis and staff moral was very low. Something had to be done.

“The first thing we did was to make an interview with managers and supervisors. Then we reorganized the company, re-assigning to suit skill sets and to increase responsibilities and accountability. All this made the work much more inter-

esting,” Sigmund Stromme explains.

“We then gathered up all the supervisors and staff for English lessons and organized leadership skill sessions for department heads. We also provided a good health insurance for everyone. At the same time we established a transparent promotion, remuneration, and merit system, and were able to provide our employees with 2-3 months bonuses in the first profitable year.”

“We have focused on development and growth of the company, giving the employees confidence in the future. Prior to this, our staff had no opportunity for training, nor were there any HR personnel looking after personnel development. All this we are doing for our staff, so that it can develop and grow with the Company.”

The Boss Sigmund Stromme Norwegian Chairman of Nordcham

R

esiding in Vietnam for 19 years, a shipping executive with more than 30 years working shipping industry.

Worked for T.Klaveness Group, Oslo, Norway from 1980 to 1993.

Arrived in Vietnam in 1993 and established ThoresenVinama Co - Joint Venture and currently holds the following positions:

A recent staff survey indicated that of the current 365 people working in the company, around 80 percent have been there for the past 8 years and the staff turnover rate remains below 1%.

More turn-around tools

“Baconco’s extraordinary sales and profits last year come from first of all from our employees. They are loyal and motivated, driving performance in the truest sense,” Sigmund Strommme modestly says.

But several other factors have clearly also contributed to the higher profits.

“We switched from leasing to owing the production machinery and at the same time we took over our own machinery maintenance and terminated third party contracts for such services,” Sigmund Stromme explains.

“As for procurement, we have particularly focused on centralizing

purchasing and inventory management, reducing raw material reserves from 4-5 months to less than three weeks. The purchasing policy was changed to reflect more frequent but smaller volume purchase.

Raw material sourcing has also been reoriented from 90% imported to 60% local sourcing. This sharply reduced previous high financial cost.”

“Furthermore, our cash only policy also provides us with a stable cash buffer,” Sigmund Stromme adds.

Future growth

There are six large fertilizer producers in Vietnam, four of which are government owned. The remaining two, including Baconco, are foreign owned. Sigmund Stromme estimates Baconco’s market share to be currently 10 percent.

Although the year 2011 was a year of high growth, Sigmund Stromme is confident there is room

for great market growth in future.

“Demand will remain strong as Vietnam is 2nd largest exporter of rice and coffee,” he says.

“Baconco’s strength lies in the quality of our products,” Sigmund Stromme explains.

“Baconco’s “Conco” brand is well known as good quality fertilizers and the farmers are willing to pay a premium for our products.”

“Our fertilizers come in 60 formulations, meeting the individual needs of the farmers. Although the niche market is small, we have few competitors. Furthermore, we have a flexible production system that allows us to adapt our products to changes in market needs very quickly.”

“Our strategy is to provide products that meet high standards, to continually innovate and provide new products, and to focus on niche market products to keep our competition at a minimum.

• Managing Director, Thoresen - Vinama Co - Joint Venture Company, largest none container ship agent in HCMC - Baria Vung Tau Area, active in Maritime Logistic for Offshore sector, forwarding/logistic/ warehousing as well as chartering/operation of Vietnamese vessels.

• Chairman of the board of Thoresen-Vinama Logistic, 32.000m2 bonded warehouse complex in Phu My industrial zone.

• Chairman of the Board of Baconco Co fertilizer company, 100% foreign invested company acquired

by Thoresen in July 2009, 410 employees, producing 200.000 mts per year.

• Board Member of Baria Serece Phu My Port J/S Co, where Thoresen acquired 20 % of the shares in 2010.

The Teams Factory:

310 workers, technicians, engineers and high rank managers

Administration:

30 financial, HR and general administration

Sales And Marketing:

50 sales engineers, sales administration and marketing

Haiphong Branch: 20 people

February 2012 • ScandAsia.South East Asia

13

Cambodia’s Vibrant O Activity in the Cambodian real estate sector has grown significantly over the past ten years with an influx of foreign and repatriated money being invested in projects around Phnom Penh.

By Steen Poulin Nielsen

ver the past decade, the Cambodian government has made an effort to create a marketfriendly environment to facilitate foreign investment. Cambodia ranks alongside with Hong Kong, Japan and Singapore as one of the easiest countries in Asia in which to do business.

Corporate income tax is set at 9% and there are no laws preventing 100% foreign ownership of companies, although land can only be fully owned by Cambodians.

Thlang Sikheng is Marketing Supervisor of Bonna Realty Group, a major player in the Cambodian real estate business. He encourages more people to consider relocating to Cambodia.

“Cambodia is a good destination for retirement, we have many different locations from the business hub of Phnom Penh to the many wonderful beaches and islands,” Thlang Sikheng says.

“The prices are lower here than in most of our neighbouring countries,” he adds.

Foreign investors “key”

Business Monitor International reports that they expect foreign investment in Cambodia to continue to be a key driver of growth for the sector.

According to the Ministry of Land Management, Urban Planning and Construction, government tax

revenues from property-related transactions surged 60% from USD 12.2 million in 2009 to USD 19.5 million in 2010.

However, over a longer term, the analysts of Business Monitor International are concerned about the weak enforcement of property rights, widespread corruption and risks of expropriation by the government which remain impediments to the sector’s growth.

In November 2009, the opening of Phnom Penh’s first Grade A office skyscraper, the 30-storey Canadia Tower, was a milestone for the city’s office market. A new law passed in May 2010 allows foreigners to own property above the ground floor of a building that is not within 30km of the border, previously foreigners were limited to 99year leaseholds on any.

Boom town

A few years prior to the economic downturn in mid-2008, the local real estate market was being widely recognized as Southeast Asia’s latest property hotspot and was booming with the opening of new hotels, restaurants and bars. Foreign and local developers unveiled a series of modern and expansive residential complexes on the outskirts of the capital targeting the city’s growing population of Cambodians and expatriates.

Small scale western-style shopping centres popped up while the growth of the banking and telecoms sector, mainly comprising new market entrants from overseas, led to increased requirements for quality office space, adding to long standing traditional demand from United Nations agencies, NGOS and embassies.

The market for second homes is not yet developed says Bonna Realty Group’s Marketing Supervisor Thlang Sikheng “So far we sell mainly to foreigners who wants to live here, the market for second homes is not yet developed. A condo on a good location in Pnom Penh will typical cost from 100.000 USD and up,” says Mr. Sikheng.

The Financial Crisis

Cambodia’s economic growth slowed and property prices fell when the global financial crisis started in mid-2008. Banks began to re14 ScandAsia.South East Asia • February 2012

strict loans for real estate projects in the country, says the Cambodian office of the real estate services firm CB Richard Ellis.

The tightening of credit in global capital markets and difficulties faced by international financiers meant many projects were put on hold or cancelled altogether, although the market avoided total collapse as many projects were suspended before they were even constructed and most buyers paid in cash and did not require mortgages.

In some respects the economic downturn acted as a correction as it prevented a large number of projects from all coming on stream at the same time and over-saturating the market.

New foreign ownership law

New foreign-ownership laws in Cambodia have boosted condo sales at several developments in the capital Phnom Penh. In November 2011 the Phnom Penh Post asked the CB Richard Ellis country manager why investors are looking at Cambodia.

“Growth,” he replied.

“We could be looking at double-digit GDP growth again in 2013”, he added.

In October 2011 the Japanese shopping mall developer Aeon Mall Co Ltd bought 6,7 hectares in Phnom Penh next to the recently opened Sofitel Phokeethra hotel.

The exact details of the deal have not been disclosed but according to the Cambodia Valuers and Estate Agents Association the land is valued at circa US$1,500/sq.m. At that price the deal could potentially be worth US$100 million.

Kheng Ser, assistant to the Project Management Team of World City, a South Korean developer behind the US$2 billion satellite city known as the Camko City development project, told the Phnom Penh Post that sales to foreigners were increasing every month.

“Until now, we have sold 45 units to foreigners, from South Korea, Australia, Singapore and China.

We have sold better since the National Assembly approved the foreign ownership law, and we strongly hope that we will get more and more foreigners to buy our condos this year,” he said to the Phnom Penh Post.

Real Estate Sector He added that he thinks it’s a good idea to allow up to 70 percent of units to be owned by foreigners.

The Camko City project started in December 2005 and is expected to be finished in 2018. The development lies on 119 hectares of land in Phnom Penh’s Russei Keo district that was reclaimed from Pong Peay Lake. Due to the financial crisis this project as well as other Luxury residential projects has been both delayed and downsized.

February 2012 • ScandAsia.South East Asia

15

Ellegaard Gets Royal Promotion:

Conveyor Belts for th P. Ellegaard A/S is now established in HCMC, Vietnam with the company Polymax Co. Ltd. The new era of the Danish conveyor belt experts was sealed with a Royal handshake.

By Indius Pedersen

16 ScandAsia.South East Asia • February 2012

A

handshake between Crown Prince Frederik of Denmark and Jesper Ellegaard of the Danish conveyor belt company P. Ellegaard A/S marked the establishment of its subsidiary Polymax in Vietnam.

The company is going to manufacture conveyors of any conceivable kind meant for the transportation industry, bulk and food industry.

At the ultra-modern factory in the Saigon area the company will produce for the Asian markets.

P. Ellegaard A/S in Ringsted, Denmark, is thus fully engaged in the process of internationalizing its

business. The production consists of a wide assortment of conveyors, drum motors and rollers for special as well as ordinary use. In any event, every solution is both ergonomic and rational, not only providing improved operating results to the user, but also offers ergonomic solutions for employees.

The conveyor belts are manufactured for airports, agriculture, slaughterhouses, supermarkets, businesses, coal mines and other mining, and vessels. Wherever there is a need to move goods.

The company has slowly initiated its production in Vietnam and this was celebrated at a huge busi-

he Asian Market ness promotion to Vietnam headed

by Crown Prince Frederik in which Jesper Ellegaard and 36 other companies participated.

“Our conveyors are used everywhere. And now we have initiated our process to internationalize the company,” says the 49 year old Jesper Ellegaard, who along with CEO Tommy Christensen leads the company.

In Denmark, the P. Ellegaard A/S has addresses in Ringsted, Fredericia, and Viborg. Outside Denmark, it is now established in Ho Chi Minh City in Vietnam.

“The company was founded in 1954 by my grandfather and father and has gradually evolved through

the years. In Denmark we have an efficient system that provides regional service within two hours. We have an efficient service team which fixes troubles on the spot if customers are facing problems,” he explains.

Now that P. Ellegaard A/S has started manufacturing in Vietnam, a new era begins.

“We are ready for most challenges and we are ready to develop solutions with our customers in Asia too,” says Jesper Ellegaard.

“Currently we are testing a special conveyor belt at Aalborg Airport. In this case it is not enough that the conveyor belt is high quality - the design must also be in order. It has to be okay

to look at. And of course the functionality should also be optimal,” he adds.

Within the food processing industry, P. Ellegaard supplies a wide range of conveyor belts, that at one end of the scale covers processing and handling of meat, poultry and fish. At the other end are manufactured conveyors for chocolates and sweets, and bakeries.

“We have more than 40 years of experience. Through all the years our market has been nationwide, but now we have decided to go abroad. We have gradually started up the production in Vietnam and the increased production from Vietnam will be exported to European

as well as Asian markets, that need our expertise,” says Jesper Ellegaard who adds that the production that has taken place for many years in Viborg, Denmark, will continue.

“Conveyor belts are used for everything. That could be for suitcases, coal, shrimp, ham, gravel or pills. All kinds of food are moved on special conveyor belts without becoming infected with bacteria. Turning to a quite different matter we also manufacture conveyor belts for recycling of old cars. And uniquely, we also produce conveyor belt in connection with X-ray machines at airports and other places where your luggage has to be checked.”

February 2012 • ScandAsia.South East Asia

17

Living to Make Differe A

By Satirat Dam-ampai

journey always begins with the first step.

For Katrine Solhaug, 32 years, her first encounter with racial and religious differences started when she spent her early childhood with local black people under an apartheid, racial segregation system in South Africa in the 1980’s. The roads she has later travelled have also brought her to many different corners of the world and continually opened her horizon and interests in the world of global social conscience.

Katrine Solhaug, who hails from Stavanger, cheerfully recalls her vivid memories of her first years in kindergarten with her missionary family in Port Natal of South Africa where she was so pure white and blonde in the middle of all her totally black Zulu friends and other people around her.

“But the only difference between us was just the colour. I remember well that we had great time together even though we were not allowed to,” she emphasizes.

Katrine’s father, John-Daniel Solhaug is a priest with the Norwegian Church and definitely the one who planted the seed of humanities in her, was there the day we met up with Katrine in Siem Reap.

“We are different in tastes, ideas, and backgrounds. But if we get the same sort of opportunities, we will be not that different,” he says “Yes, I believe it started there in South Africa,” says Katrine.

Extensive traveling

For Katrine, to travel is to live and it has so far lead her to more than 50 countries over the past 12 years.

After several years of educations in Norway, Thailand, Malawi, Spain, Mexico, and Nicaragua, with a special active role as a coordinator of the school programmes there, Katrine was in 2007 selected to manage Earthwalkers guesthouse in Siem Reap, Cambodia. Until then, she had only heard of the place as the little town near the big religious complex called Angkor Wat. “They told me that I would fall in love with Cambodia and get stuck here,” Katrine laughs. At the time, she was not that convinced but now she admits that “yeah, they were actually right.”

Cambodia to learn by doing and they could also contribute,” she adds.

The 3-month course comprises of intensive lectures, social activities, practical lessons, and excursions which are the most important part of the programme. There seems to be no end to Katrine's creativity when it comes to social initiatives.

Such as picking up the garbage on Siem Reap roads and get funded from Norway by the kilos they collect. They could raise 1,800 dollars at last and contributed it to build proper classroom floors in a primary school outside of Siem Reap.

The school is part of Teaching Cambodian, a project which teaches and empowers local teachers to be better in the long run.

Moreover, all 15 Globalstudies students also have to run Babel guesthouse and make shifts in cleaning the rooms, serving, presenting at the front desk, just as if they were real staffs. Babel, owned by Katrine and her partners, is the place where all students stay and have practical lessons how to operate the business and focus on responsible tourism projects.

What the students say

The friendliness of the Cambodian people is one of the reasons that makes her stay and keep coming back to the country. She feels very motivated and willing to do something for the Cambodians among others because it takes so little to change so much and people really appreciate the help they get.

Dad, I will start a school!

Katrine is known to have so many ideas and plans in her head, and eventually takes most of them along into her sleeping mode, even in her dreams. And in the middle of one night in February 2008, her father got a phone call from her saying “I have an idea, Dad, I'm going to start a school!”

After one and a half years managing Earthwalkers, and when the time was ripe, she left to be on her way to pursue her own dreams.

With educational background in

18 ScandAsia.South East Asia • February 2012

marketing, multicultural pedagogy, international social work, plus her core experience in the field of tourism, all form the ideas into practice. Katrine eventually recognised a big potential in the emerging trend of global responsible tourism and founded Globalstudies, a hospitality management course which specially focuses on responsible tourism, as a sequel.

“All of the big networks that we have got - from hotels, tour companies, bars & restaurants - make it a big opportunity for Norwegians to come and learn. We then have managed to build up a network and cooperation with the Norwegian School of Hotel Management, University of Stavanger so we can offer students a different experience in their studying,” Katrine enthusiastically explains the programme and almost every details of it.

“So instead of reading only in theory at school, they can come to

“It's the experience,” comments Thoralf Utsi, a chef and student who murmurs an idea to open his own restaurant in the future.

“For me, this course gives me an introduction to tourism and and an understanding of how the business works.”

For another student Hilde Marie Kvalösæter, she would like to be a teacher in responsible tourism, starting an organisation and a guesthouse in Cambodia. But so far, what she has done is teaching English to Cambodians. Of course, people need to get education, she adds.

Both Marie and her classmate, Stine Joakime Didriksen, agree that they would love to help Katrine if she needs, and that would be a great start for them. Being asked how to help making differences, Stine simply replies “look at what Katrine has done,”

Support the staff

Globalstudies is one of the dreams come true for Katrine, Three years of hard work has transformed the idea into a reality and it has been doing better than she ever expected.

ences “We have just started it, and we are going to make it grow,” she says.

For Katrine, working 18 hours a day doesn't drain her energy from other possible actions. Next, it is Babel Educational Programme.

It is a project that guests can contribute and it supports Babel's staffs for their better educations. So far, they already have two to three sponsors that would like to help one of the staffs for one year at Paul Dubrule, a hotel and tourism school in Siem Reap.

The fortunate staff they sponsor is a man who today works at the front office during the day time.

Katrine explains that he used to live in the garbage dump in Phnom Penh for almost ten years before he struggled his way up to Siem Reap where he found work at the Sala Bai hotel for a year. During that time, he was sent to learn managing skills and later he moved to be with Babel.

“We also want him to grow because he has so much potential and Paul Dubrule would eventually give him more opportunities. Then he has to move on to the star hotel,” Katrine says.

Some other staffs such as housekeeping girls can also benefit from English class three times

a week, then they could move step by step to better positions at the guesthouse. One former staff has also been supported and now studying Psychology in a university in Bangkok.

Solhaugfond

In addition, Katrine and her father also set up the Solhaugfond to support projects that provide a brighter future for young Cambodians. They manage to collect 12,000 dollars on his 60th birthday in Norway which they later handed over to Sangkheum Center for children to be used to prepare the young adults to advance in the real working world.

“One of the important reasons that keeps me here is that we see how easy it is to make a difference in people's live,” says Katrine.

“We are from Norway, one of the richest countries in the world.

And I feel like at least we can contribute with our knowledge, money, and network. I think I wouldn't live properly if I couldn't do something with all the resources in my hands.”

“The main goal is that we can make a difference here, and also open up eyes and minds to Norwegians. Yes, I want Norwegians to get out and make a difference,” she adds.

Classroom atmosphere and the students can take a break at a swimming pool.

Globalstudies students prepare for an exam - introduction to tourism in the next morning.

Working 18 hours a day doesn’t drain her energy from doing a good deed for people. Here, she is clearing bill and all administration papers before leaving to Phnom Penh.

Babel bar and restaurant atmosphere February 2012 • ScandAsia.South East Asia

19

Two Month Vacation T

There is a real calling for Scandinavians to Asia and once they come here don’t expect them home in a hurry. This was the case for sailor Kjell Bottenvik who came to Bali for a short vacation - 16 years ago. Firstly he fell in love with Bali and just when it was time to go home he fell in love with a girl from Java. Today, Bottenvik would never dream of going home to Norway.

By Bjarne Wildau

N

orwegian Kjell Bottenvik landed in Bali more than sixteen years ago for a planned two month

vacation.

“But I have never used my return ticket,” he laughs.

“I had a gut feeling that this was somewhere I should be. On the other hand, I didn’t think for a second I would stay here for the rest of my life,” says the 70 year old while sitting in his “Bali Pub” on the main street of Jalan Tamblingan in Sanur.

The bar owner and wife Triana are a business team but both have never considered even going back to his old country for a holiday.

“Oh my dear. Why should I go back there? Look around if you can’t understand me, compared with Norway this is clearly paradise.

When we need a break from the wonderful madness here we head for Singapore or Malaysia. Definitely not for Norway,” says Kjell, who has a five-year-old daughter Anande, with a glint in his eye.

Bali...what?

When the Norwegian came to Asia for the first time 54 years ago, he had never even heard of Bali much

20 ScandAsia.South East Asia • February 2012

less dreamed he’d end up residing there.

“As a sailor my first Asian experiences were the Philippines, Japan, China and Taiwan. But it was fantastic for me as a boy to see so many different things and cultures. There is no doubt that visiting Asia planted a seed,” he says.

Eventually, Kjell quit sailing and got a steady job working for Kvaerner, the huge Norwegian engineering and construction company. Installation of turbines became his forte for more than two years.

Then in 1994 Kjell Bottenvik came to Bali for the very first time, his two month holiday turning into a little more than that.

The weather...

“Why I decided to stay? I’d say the weather and the friendly people were a deciding factor. Balinese and other Indonesians are so nice that is impossible not to have a great time here.”

Clearly, his future wife, Triana had also something to do with it as they have been together now for more than 16 years.

Just 12 months after his arrival in the holiday island, he opened his first version of Bali Pub and it got off to a flier.

“Most of our guests were tourists who came here with Danish Larsen Travel. Most of the people we served were Danish or Norwegian, but there were very little Swedes,” Bottenvik says.

Bottenvik seems to have the people touch and a gift of making customers feel welcome. His frank comments, his loud laughter and a good heart makes him a popular proprietor.

Bottenvik made such an impression on one of his regulars that he made a caricature of the Norwegian, ponytail and all.

The terror attack

Before the Bali terrorist attacks the Bottenvik’s enjoyed the good times and made some good money but it was downhill from there. Just when they started to rebuild their trade SARS hit hard putting them back to square one.

“Now we are making ends meet every day. Three years ago the landlord, who owned the first Bali Pub, turned greedy and increased the rent so we were forced to move up here. The kitchen is closed all day, there is far too much work for little money to keep it open”.

Bottenvik insists there is a differ-

Turned Into 16 Years Now we are making ends meet every day.

Three years ago the landlord, who owned the first Bali Pub, turned greedy and increased the rent so we were forced to move up here.

ent type of tourist in Bali these days.

A view which is shared by many restaurateurs and bar owners on the island.

“We have a lot more people coming to Bali now but it’s a

changed market. The visitors spend money but not half as much as they did before. At the same time prices have increased by 800 percent since 1995 and it’s much cheaper in Bali now for westerner tourists if you

compare with the currencies then and now. It’s impossible to make money now, people who say that are wrong,” reckons Bottenvik.

“We just try to have a nice time here - nothing more, nothing less.”

IB International Baccalaureate

- an alternative to the Danish ‘Studentereksamen’ • internationally recognized • gives admission to universities all over the world • taught in English You can stay at Nyborg Gymnasium’s boarding school.

Contact us for more information about the programme and the boarding school.

Deadline for applications: 15th of March.

Nyborg Gymnasium & Kostskole Skolebakken 13, DK-5800 Nyborg Tlf +45 65 31 02 17, fax +45 63 25 52 19 post@nyborg-gym.dk, www.nyborg-gym.dk

February 2012 • ScandAsia.South East Asia

21

Medium

Flæskesteg Roast Pork

N

othing is as nice as a traditional Danish pork roast. You need to find a shoulder of pork with the fat rind on. If you can’t find pork roast with the rind attached then look for a fresh ham, remove 2/3 of the skin and you will get crackling with the rest.

Evil

Ingredients

4½-6½ lbs of Shoulder of pork w/rind on 2-3 spoons of course salt 2 lbs small cold boiled potatoes 4 spoons sugar 1½ oz butter 1 pint of water 2 lbs canned red cabbage

The Roast

Preheat oven to 350°F. Put the roast in a roasting pan with water with the rind facing downwards. Let the water cover the rind. Use as small a pan as possible to get good tasty gravy.

Leave the roast in the bottom of the oven for 30 minutes. Using a sharp, heavy knife cut deeply through the rind and fat until you reach the meat, making the incisions 1/2” apart lengthwise and crosswise. Rub salt liberally into these gashes. It will make the crackling to bubble up and get crispy.

Put the roast in bottom part of the owen for 1½-2 hours. Take it out and pour the gravy into a pot to make brown sauce from it. Put the roast back in the oven and set the temperature to 530°F. Watch the crackling, it may suddenly be overdone.

Are you done?

Brown sauce

W

hen you have completed the above puzzles, please send your solution by fax to +66 2 943 7169 or scan and email to puzzles@ scandasia.com. We will make a lucky draw among the correct answers. Five lucky winners will receive a ScandAsia polo shirt.

Name:

___________________________________________________

Age: ________________________

Mobile:

___________________

Address:

__________________________________________________

__________________________________________________

__________________________________________________

Email:

__________________________________________________

Deadline for submitting your solution is 15 March 2012 22 ScandAsia.South East Asia • February 2012

Let the gravy rest a while in the pot and remove the grease from the surface. The gravy is thickened by a mix of flour and cold water, add black gravy color, and salt and peper.

Red Cabbage

Use precooked red cabbage in a can or in a glas. If of German origin pour in two spoons of sugar. Add some water in the pot and let it cook at low or medium heat for 30 minutes. Alternatively, the cabbage can be heated in the microwave owen which will make the cabbage more crispy.

Candied Potatoes - Brunede Kartofler

Caramelised Potatoes is delicious with almost all kind of roast meat, especially pork. It is important to follow the recipe exactly for a good result.

Run the cold tap over the cold boiled potatoes just before starting.

Use new potatoes if possible and boil well in advance to ensure they are cold before use. Run cold water over potatoes before starting.

Put the sugar on frying pan and heat until melted and golden. Add butter and mix well. Add potatoes and shake frying pan well. Add water carefully and stir lightly until water has evaporated.

Serving the Scandinavian community for over 30 years

• International, Domestic and Local Moving • Document Storage Services • Real Estate Services

• • • •

www.santaferelo.com

Office Relocations Property Management Orientation Programs Visa & Immigration

Indonesia:

Malaysia:

Tel: (6221) 789 2033 sales@santaferelo.co.id

Tel: (603) 7805 4322 info@santafe.com.my

Philippines:

Vietnam:

Tel: (63) 2 838 1761 santafe.manila@santafe.com.ph

Tel: (84) 8 3933 0065 info@santaferelo.com.vn

When it’s time to do business, we’re exceptionally open.

Every business has a different story and a different goal. We understand that.

Over many years in this market of unique opportunities, we’ve developed the local knowledge, resources and connections needed to turn ambitions into reality. That’s why we’re one of the most well-established northern European banks in the region. For corporates, financial institutions and private banking clients, we’re ready to listen and cater to your needs – in Beijing, Shanghai, Hong Kong, Singapore and New Delhi.

Welcome to contact us at Tel: +65 63 57 08 95 singapore@sebprivatebanking.com.sg www.sebgroup.com/privatebanking